A Scottish energy company is using foreign courts to seize Indian assets ...Middle East

Quartz - Economy
A Scottish energy company is using foreign courts to seize Indian assets
source : Quartz ( Middle East ) () 20
Cairn Energy won a French court order today (July 8) to seize 20 Parisian residential properties owned by the Indian government. But the oil and gas company is on the hunt for more assets: Air India planes, real estate, money—anything to make up the $1.7 billion that it aims to recoup from India.The sum, which is the fallout of a 10-year-long tax dispute, was awarded to Cairn as damages by an arbitration tribunal in the Hague last December. India has filed an appeal against the verdict in a Dutch court. But in the interim, Cairn has lawyered up and filed cases in courts in the US, the UK, France, Singapore, Canada, and the Netherlands, to get orders to impound Indian assets in those jurisdic

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